It is some fifteen or twenty years ago, since a company of two or three speculative geniuses issued a plan for establishing, in a delightful glen situated but a few miles from a well-known Welsh port in the Bristol Channel, a brewery upon an extensive scale. The prospectus, as a matter of course, promised to the shareholders the usual golden advantages. The crystal current which meandered through the valley was to be converted into malt-liquor--so great were the natural and artificial advantages which combined to effect that result--at one-half the cost of such a transformation in any other locality; and the liquor produced was to be of such exquisite relish and potency, that all Britain was to compete for its possession. So plausible was everything made to appear, that men of commercially acquired fortune, of the greatest experience, and of long-tried judgment, invested their capital in the fullest confidence of success. Following their example, tradesmen and employers did the same; and, in imitation of their betters, numbers of persons of the classes of small shopkeepers and labouring-men invested their small savings in shares in the 'Romantic Valley Brewery.' The number of joint-proprietors amounted in all to some hundreds, holding L.20 shares in numbers proportioned to their means or their speculative spirit. Not one in fifty of them knew anything of the art of brewing, or had any knowledge of the locality where the scheme was to be carried out; but no doubt was entertained of the speedy and great success which was promised.